Dürr raising full-year guidance on order intake
Bietigheim-Bissingen, October 18, 2017 – Dürr has issued a more precise order intake and sales guidance for 2017. The target range for the Group’s order intake has been lifted from € 3.3 - 3.7 billion to € 3.6 - 3.8 billion. The Group is now looking for sales of € 3.5 - 3.6 billion in 2017 after previously defining a range of € 3.4 - 3.6 billion.
Dürr is confident of being able to reach the top end of the new target corridor for both order intake and sales. Ralf W. Dieter, CEO of Dürr AG: “We are striving for record order intake of up to € 3.8 billion. Revenue recognition has accelerated since mid-year, prompting us to now expect a slight increase over the previous year.” Adjusted for the effects from the sale of the Dürr Ecoclean Group (business volume of around € 200 million in 2016) in March 2017, sales should probably expand by 3 - 5%. The Dürr Group reported sales of € 3.57 billion and order intake of € 3.70 billion in 2016.
The target EBIT margin range for 2017 is unchanged at 7.5 - 8.25%. From today´s perspective, cash flow from operating activities should be in the order of € 140 - 190 million. The Group had previously been expecting cash flow to remain more or less steady at the previous year’s level (€ 227 million). This target has been adjusted to reflect changed prepayment practices by customers in the automotive industry. CFO Carlo Crosetto: “This shift in cash flows does not have any impact on profitability however.”
Dürr will be presenting its outlook today at an investors´ day at its subsidiary Carl Schenck in Darmstadt, where the new industrial internet-of-things platform ADAMOS and the digital market places LOXEO (for Dürr and Schenck customers) and tapio (for HOMAG customers) will be presented.
The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive automation expertise. Products, systems and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies sectors like the automotive industry, the mechanical engineering, chemical and pharmaceutical industries, and the woodworking industry. The company has 86 business locations in 28 countries. The Group generated sales of € 3.57 billion in 2016. Dürr has around 14,500 employees and operates in the market with five divisions:
- Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
- Application Technology: robot technologies for the automated application of paint, sealants and adhesives
- Clean Technology Systems: exhaust-air purification systems and energy efficiency technology
- Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
- Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
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